Digital Realty declares pricing of €1bn of guaranteed notes due 2031


Digital Realty (NYSE: DLR) has announced that Digital Intrepid Holding B.V. priced an offering of €1.0 billion aggregate principal amount of 0.625% Guaranteed Notes due 2031 at a price of 99.515% of the principal amount.

Digital Intrepid Holding B.V. is an indirect wholly-owned holding and finance subsidiary of the company's operating partnership, Digital Realty Trust, L.P.

The Euro Notes will be senior unsecured obligations of Digital Intrepid Holding B.V. and will be fully and unconditionally guaranteed by the company and the operating partnership. 

The company revealed that interest on the Euro Notes will be payable annually in arrears at a rate of 0.625% per annum from and including January 12, 2021, and the Euro Notes will mature on July 15, 2031.

The company intends to allocate an amount equal to the net proceeds from the offering of the Euro Notes to finance or refinance, in whole or in part, recently completed or future green building, energy and resource efficiency and renewable energy projects, including the development and redevelopment of such projects. 

The Euro Notes are being sold only outside the United States in reliance on Regulation S under the U.S. Securities Act of 1933, as amended. 

Digital Realty also announced that its operating partnership, Digital Realty Trust, L.P., has given notice of its intention to redeem all of its outstanding 2.750% notes due 2023.

The redemption date is February 4, 2021, and the applicable redemption price is equal to par plus a make-whole premium, plus accrued and unpaid interest to the redemption date, in accordance with the terms of the notes. 

The company said in a written statement that as of the date hereof, there was $350,000,000 aggregate principal amount of notes outstanding, and Wells Fargo Bank, National Association is the trustee and paying agent for the notes.